Freddie Mac Director to Step Down

Freddie Mac Director to Step Down



Linda B. Bammann will be resigning from Freddie Mac’s board of directors at the end of July, the company announced.

Bammann joined the board in December 2008 and was most recently re-elected in February 2013 by written consent of the Federal Housing Finance Agency, Freddie Mac’s conservator. In her time on the board, she has chaired the Business and Risk Committee and served as a member on its Compensation Committee.

“My time on Freddie Mac’s board of directors has been both productive and rewarding,” Bammann said. “It has been a privilege to be a part of the important work of Freddie Mac, particularly during such a critical time for the housing market as well as the economy in general. I want to thank my fellow board members and the management team and wish the company well as it continues its important work.”

Bammann worked as EVP and deputy chief risk officer for JPMorgan Chase from July 2004 until her retirement in January 2005. Before that, she held several positions with Bank One, including EVP and chief risk management officer. She was also a member of Bank One’s executive planning group and served as a board member of the Risk Management Association and chairperson of the Loan Syndications and Trading Association.

“Linda has been a thoughtful and highly effective leader on Freddie Mac’s board of directors during an extremely challenging time for the company,” said Freddie Mac chairman Christopher Lynch. “She joined the board following conservatorship, and her tremendous risk expertise and knowledge of the financial markets have been invaluable to us all. I am enormously grateful to her for her service and wish her continued success in her future endeavors.”

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